Cape Cod Five Cents Savings Bank Has $1.63 Million Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Cape Cod Five Cents Savings Bank boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 28.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,504 shares of the information technology service provider’s stock after buying an additional 5,491 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Cognizant Technology Solutions Corporation were worth $1,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cohen Lawrence B raised its position in shares of Cognizant Technology Solutions Corporation by 1.4% in the first quarter. Cohen Lawrence B now owns 76,297 shares of the information technology service provider’s stock worth $4,541,000 after buying an additional 1,020 shares in the last quarter. Pensionfund DSM Netherlands increased its stake in shares of Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock worth $3,714,000 after buying an additional 2,000 shares during the last quarter. Pensionfund Sabic increased its stake in shares of Cognizant Technology Solutions Corporation by 9.4% in the first quarter. Pensionfund Sabic now owns 31,400 shares of the information technology service provider’s stock worth $1,869,000 after buying an additional 2,700 shares during the last quarter. Searle & CO. bought a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $700,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $1,101,000. 89.18% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.59% during midday trading on Friday, reaching $69.31. The company had a trading volume of 3,894,803 shares. The company has a market capitalization of $40.82 billion, a P/E ratio of 25.21 and a beta of 1.16. The company’s 50 day moving average is $67.70 and its 200-day moving average is $61.67. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $70.49.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions Corporation will post $3.67 earnings per share for the current fiscal year.

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A number of brokerages have issued reports on CTSH. Cowen and Company reiterated a “buy” rating and set a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday. BidaskClub upgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $80.00 target price (up previously from $66.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 15th. HSBC Holdings plc cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $68.00 in a report on Thursday, June 8th. Finally, Societe Generale cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and increased their target price for the company from $68.00 to $74.00 in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.78.

In other Cognizant Technology Solutions Corporation news, insider Venkat Krishnaswamy sold 6,438 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $64.15, for a total value of $412,997.70. Following the completion of the sale, the insider now owns 22,363 shares of the company’s stock, valued at $1,434,586.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $750,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,783 shares of company stock valued at $4,222,615. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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